Union considers full-scale industrial action at HSBC Malta

The Malta Union of Banking Employees is considering a full-scale industrial action over an allegedly misleading statement by the HSBC chief executive Mark Watkinson on union negotiations and a salary increase scheduled for March.

“Differences remain and this is mainly due to the fact that the Bank has purposely not reverted back with a decent proposal and remains intransigent,” MUBE president William Portelli said. “In fact, the CEO’s reference to inflationary increases indicates that the local workforce will be getting ‘pittance’ percentage increases in salaries which is unacceptable to MUBE.”

MUBE said that this is what HSBC Malta had been aiming at when management unilaterally decided to withdraw from an agreement reached in August 2014.

The MUBE has demanded a 0.85% staff home loan rate, a salary increase starting with a percentage much higher than 1% salary, and apply a reduction on the rate of staff homeowner loan maxi-credit.

“The CEO is very incorrect when saying that the bank remains committed. As we have already stated, the bank should be seriously concerned with retaining good loyal performing staff long-term and not obsessed with cost cutting and profitability,” the MUBE said.

The union said that the management was ignoring the fact that international recruitment was costing heavily the local operation.

“The extra expense is hitting hard the categories represented by the collective agreement plus remuneration to the GCB 4 grade. This effectively is demotivating most of the workforce and not allowing the local group to seriously compete with its rivals in the sector.”